Up to 20% Off on GSTR9 Filing

What is GSTR-9 Filing?

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GSTR 9 is an annual return to be filed yearly by taxpayers registered under GST. Points to note: It consists of details regarding the outward and inward supplies made/received during the relevant financial year under different tax heads i.e. CGST, SGST & IGST and HSN codes.

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Who should file GSTR-9A return?

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Regular GST taxpayers filing GSTR-1, GSTR-2 and GSTR-3 must file GSTR-9A, consolidating information furnished during the previous financial year.

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Who should file GSTR-9B return?

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All the electronic commerce operators collecting tax at source shall file GSTR-9B return. n addition to GSTR-9B return, electronic commerce operators shall also file GSTR-8 return, every month.

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Who should file GSTR-9C return?

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Regular taxpayers having an aggregate turnover of over Rs.5 crore during a financial year and registered with GST must audit the accounts maintained by the taxpayer and file a copy of the audited annual account and reconciliation statement along with GSTR-9C return. To audit the returns, the taxpayer can approach a practising Chartered Accountant or Cost Accountant.

 

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What information should be filed in GSTR-9 return?

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The taxpayer shall provide the following information while filing GSTR-9A return:

• Total value of purchases on which ITC availed (inter-State)

• Total value of purchases on which ITC availed (intra-State)

• Total value of purchases on which ITC availed (Imports)

• Other Purchases on which no ITC availed

• Sales Returns

• Other Expenditure (Expenditure other than purchases)

• Total value of supplies on which GST paid (inter-State Supplies)

• Total value of supplies on which GST Paid (intra-State Supplies)

• Total value of supplies on which GST Paid (Exports)

• Total value of supplies on which no GST Paid (Exports)

• Value of Other Supplies on which no GST paid

• Purchase Returns

• Other Income (Income other than from supplies)

• Return Reconciliation Statement

• Arrears (Audit/Assessment etc.)

• Refunds

• Turnover Details

• Profit as Per the Profit and Loss Statemen

• Gross Profit

• Profit after Tax

• Net Profit

• Details of Statutory Audit

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Penalty for Late Filing

A per day penalty of Rs.100, up to a maximum amount of Rs.5000 would be applicable for late filing of the GSTR-9 return. Only if all the GSTR-1, GSTR-2 and GSTR-3 returns are filed, the taxpayer would be able to file GSTR-9 return on the GST Portal.

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Should GSTR-9 return be audited?

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Yes. Regular taxpayers having an aggregate turnover of over Rs.5 crore during a financial year and registered with GST must file GSTR-9 returns. To audit GSTR-9 return, the taxpayer can approach a practising Chartered Accountant or Cost Accountant.